Solvency II risk margin is ‘fundamentally flawed’: PRA

hm-treasury

Sam Woods told the Treasury's Select Committee that insurers were exaggerating the problems with the regulation. Last month Aviva and Legal & General gave evidence to the committee, suggesting it was a deterrent to investment in infrastructure. "They are overdoing it," Woods said, in comments reported by Reuters. "They are giving the impression that Solvency II discourages long-term investment. "I am not a cheerleader for Solvency II. There are some bugs that need to be ironed out." T